Beijing (ZXZC)- Xiaomi Auto is reportedly only a few steps away from getting the manufacturing credentials for new energy vehicles, according to several local media channels. 

Photo credit: Xiaomi

According to the reports, the production license may be transferred by Beijing Borgward, who has officially filed for bankruptcy to the First Intermediate People's Court of Beijing Municipality on April 8, 2022. Notably, Beijing Borgward holds production licenses for both fossil-fueled and new energy vehicles.  

Xiaomi has completely set its auto endeavor in Beijing. According to the company’s contract with Beijing’s Yizhuang, Xiaomi Auto will construct its headquarters, sales base, R&D base, and a manufacturing plant in the area. The production plant will be built in two phases, with a total designed capacity of 300,000 vehicles divided equally. The company projects to roll off its first vehicle in 2024. 

Recently, at an event held by the company, Xiaomi's founder Lei Jun revealed the latest progress of the company's automotive business. Lei Jun stated that he spends half of his time on the automotive business, and that more than 3 billion yuan were poured into new businesses such as automobiles in the past year. The R&D team of Xiaomi Auto has grown to over 2,300 people. In September 2022, Xiaomi's prototype car rolled off the production line as scheduled, and winter testing of the car began at the end of December 2022.